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It will look MUCH better IF you can get the lender to put the"ZERO BALANCE" part IN WRITING before you give up the car.

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โˆ™ 2015-07-15 19:29:55
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Q: If the creditor tells you that you would have a zero balance if you give the car back how will this look on your credit when purchasing another car?
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Related questions

What does it means if sundry creditor hava a debit balance and credit balance?

If someone has a creditor and has a debit balance and a credit balance this means they have a bank account. The bank account provides the debit card and the bank provides the credit balance.

Sundry creditors shows?

sundry creditor shows credit balance

What is creditor account with debit balances?

A creditor is an entity that a company owes money to, such as debt to a bank or bondholders. If a creditor has a debit balance, it means that your company paid more than they owed. If there was a credit balance, you would owe money on that account.

What does chase balance transfer stand for?

A balance transfer is the transfer of balance in an account or a credit card to another account.It also refers to transfer of outstanding balance from one credit card to another credit card.

What is a balance transfer?

A balance transfer is when you have money in one bank and transfer that money to another bank. It is also when you have a balance on one credit card and transfer the balance to another credit card.

If a creditor reports an upaid bill on your credit then sells the account to another creditor can they report the same unpaid bill on your credit?

Yes, they can. But, usually it can be removed by the credit bureau once its proven to be a duplicate entry of the same debt.

Can you pay your credit card bill by another credit card?

Yes you can pay your credit card bill by another credit card. It is called balance transfers, you can transfer the balance of another credit card that has a high interest to a credit card that has a low interest. Hopefully this answers your question.

Why is the same creditor on my credit report twice?

Is it for the same account or do you have another account with them?

Can a secured credit card raise your credit score?

Yes it can. A secured credit card is for people who is trying to rebuild their credit or has been denied credit in the past. Most of the time a secure credit card is money that you set aside to give to the creditor as collateral which is $300. Then once approve which is most of the time, the creditor will give you a secured credit card in which you try to use it and pay either the minimum due or the entire balance. If you do not pay any balance, the company that has your collateral will keep the $300.

What does it mean to transfer credit card balance?

To transfer a credit card balance means to use the available credit on one credit card to pay off the balance of another credit card. This is often done by credit card holders to pay back a balance at a lower rate.

How do you find garnishment balance?

You can find your garnishment balance by contacting the court who issued the garnishment or the creditor who put the garnishment on your wages. You could also pull a credit report to see your current balance.

What is the journal entry for purchasing goods on credit?

Purchase a/c....Dr To Creditor a/c (party from whom goods are purchased)

What is the journal entry when purchasing a company?

Debit assetsCredit liabilitiescredit cash / bank (balance amount)

When does a debtors account have a credit balance?

goods in transit a debtor(customer) could also be a supplier(creditor)

Does it cost anything to transfer your credit card balance to another card?

When transferring a balance from one credit card to another, a transfer fee is usually charged. This fee is a percentage of what ever the balance is. A higher balance means a higher fee.

Can you pay off a credit card by using another credit card?

Many credit card companies offer balance transfer options whereby you can transfer the balance of one credit card to another. Be aware that the terms offered for balance transfers can be deceptive and generally the terms have a time limit.

Can you get sued over an unpaid credit card balance?

Yes. It doesn't matter how much the account balance is, it only matters if the creditor can collect the money owed after wining a lawsuit

Is accounts payable debit or credit balance?

Accounts payable is a credit balance, because that is how much you owe to another company. Accounts receivable (the amount you will receive from another company) is a debit balance.

How long does it take to reflect on your credit score when you pay balances off?

As soon as your creditor reports your balance is zero, the Credit reporting agencies update about every 30 days

After paying off a debt collection does your credit go up?

Yes, if you have a bad debt reported to your credit listing and unpaid balance this hurts both your credit rating along with your balance between debt-to-income if you had been considering purchasing or refinancing a home. When you payoff this debt, the balance is changed to reflect that you have made this payment, which will improve your credit standing.

Can creditor report car as repo 2yrs after BK discharged if reaffirmation was not entered in court although timely payments made for 2yrs after BK and creditor shows zero balance on credit report?

A creditor can report a car as repo and not correct it unless you call them. If it not their responsibility to make sure your credit report is right, it is yours. If you contact them, they must fix it.

Who is a creditor?

The creditor is the person who provided services, goods, or credit.

What does a charge off with a zero balance mean?

A charge off with a zero balance means that a creditor has written off your account as a bad debt. This will show up as a negative mark on your credit report.

Does AP appear on the balance sheet or income statement?

Accounts payable is shown in liabilities side of balance sheet as it is the liability for business for purchasing goods on credit from vendors.

Can you transfer credit card balance to another carholders card?

Yes, you can transfer a balance from one person to another, preferably WITH their permission..